Saudi Aramco now owns largest U.S. Refinery

On March 16 Shell and Saudi Aramco announced that they will break up Motiva Enterprises LLC and divide the assets. Motiva was created over 20 years ago as a U.S. oil refining and marketing joint venture. The division of assets gives Saudi Aramco sole ownership of the U.S.’s largest refinery located in Port Arthur, Texas. Saudi Aramco will also own 36 distribution terminals in the U.S. with the right to market gasoline and diesel in Texas and most of the Mississippi Valley under the Shell brand. Shell will have sole ownership of the Norco refinery in Louisiana and a chemical plant in Convert, LA, nine distribution terminals in the south and use of the Shell brand name in Florida, Louisiana and the Northeast part of the U.S.